Leeo, Inc., headquartered in Palo Alto, CA placed 96% of its $650,000 equity offering among eleven investors. According to information disclosed during its previous equity offering launched in March 2013, twenty-three investors would have invested a staggering…$4.34 each. This brings to $625,100 the total amount of funds raised via equity issuance. The company is currently under the wing of seed capital provider Menlo Atherton Capital, a boutique venture capitalist that funds and provides resources to early stage companies.
As the company is in stealth mode and the offering was filed under industry: “Other”, it is unclear what product or services it will bring to this world. Despite the smoke screen, the product might well be related to the world of robotics, i.e. design, construction, operation, and application of robots, as well as computer systems for their control, sensory feedback, and information processing. It turns out the company is lead by two robotics veterans, Adam Gettings and Eddy Chan who are related to RoboteX, Inc.. Leeo, Inc. recently relocated from Sunnyvale to its current address.
See also the update: Stealth robotics company is developing “environmental” technology